How can I foster transparency in my business?

Q: How can I foster transparency in my business? –Honest Business Owner

A: Dear Honest:

Transparency can help you identify and prevent potential legal and financial problems before they happen.

So, how can you foster transparency in your business? Here are a few best practices to help you get started:

Hire honest employees who won’t be afraid to speak up about potential problems and make the time and space for them to do so.

Encourage open communication, so potential difficulties are addressed early on.

Utilize social media as a forum for public feedback, and create an intranet for your employees so they can speak up, too. Consider using a service such as 15five.com to facilitate communication.

Reduce hierarchy. Focus on roles, not titles, and swap individual cubicles for a more open workspace.

Embrace feedback. Don’t just ask for it; be willing to use it for productive change.

Share the good and the bad with employees. They deserve to be kept in the loop.

Socialize with employees. You’ll earn their trust and they’ll be less likely to keep potential problems to themselves.

If you need help fostering transparency in your business, start by sitting down with us. As your Creative Business Lawyer®, we can help you make strategic decisions that will keep your business transparent so you can anticipate and avoid problems.